Talking Default with NPR and Bloomberg TV

The debt limit is destructive, duplicative, and dumb. That was the title of a post I wrote a few days after the US hit this self-imposed anachronism back in January. Since then, I’ve done countless interviews about the state of play in the fight to raise the “debt” ceiling in time to avoid an unprecedented and catastrophic default.

The Lens
Gen Z for Biden on Twitter

“BREAKING: Joe Biden increased his lead to +6 over Donald Trump according to a new @Ipsos/@Reuters poll. This represents a 3 point increase for the president since February. Just like record youth turnout, we’re sure the media won’t report this. Spread the news to help Joe Biden.”

Twitter
@plutus @johnserwach Polls are only polls of course.

@ForeignSubstance @johnserwach

i seriously don't understand why he wants to run

@plutus @johnserwach He thinks he's the only guy who can win.

He could be right? I dunno.

@ForeignSubstance @johnserwach

Well he was the only guy the donors wanted in 2020.
I think it's about legacy - the mystique of the 2 term POTUS

@ForeignSubstance @johnserwach

Sorry to burst your Chinese balloons but 6 pts is nothing to frolic in the oval about against a indicted couper imho

@ForeignSubstance @plutus it’s not 6, the red wave is a mirage. (Again)

@johnserwach @ForeignSubstance

This is who we need Billy bob 2.0 - he connects with the soccer moms in ways we can never understand, but...

@plutus @johnserwach @ForeignSubstance

He can run in the primary. He wont win because of his stance on abortion. Abortion is the only thing that matters

Hu Xijin 胡锡进 on Twitter

“.@elonmusk is more clear-headed than many American politicians. This is normal. Businessmen tend to be more realistic, politicians are more idealistic, and a large part of them pretend to be idealistic. ”

Twitter
Preview: The End of History with Mike Green

YouTube

@rubecube12 @plutus @ForeignSubstance

That’s incredibly hard to watch, is their something redeeming in there I can just fast forward to ?

@johnserwach @plutus @ForeignSubstance

The MAGA room im in all yelling That russia won the war today

@plutus @johnserwach @ForeignSubstance

Yeah. He's in that room

@rubecube12 @johnserwach @ForeignSubstance

They are mostly cut from the same cloth - very focus on the immediate petty materialism

@rubecube12 @johnserwach @ForeignSubstance

Bob Gates is one of the wisest politico in many decades. Our country is at an impasse is b/c of one singular reason and that alone.
https://youtu.be/cHZuquEp6yg

Full interview: Former Defense Secretary Robert Gates on "Face the Nation," May 21, 2023

YouTube

@ForeignSubstance @johnserwach @plutus

Platinum coin means stocks go higher

@plutus @johnserwach @ForeignSubstance

14th amendment will be struck down by the court. Coin will be necessary

@rubecube12 @plutus @johnserwach Not sure how SCOTUS strikes down a Black Letter element of the US Constitution.

They will eventually face the same situation they did when both Jackson and Georgia ignored them, in 1832.

@ForeignSubstance @johnserwach @plutus

The issue is whether the debt ceiling law is constitutional. The 14th amendment says the debt shall not be questioned. That just means that the debt has to be paid first before other payments. Not that we have to issue more debt. That other interpretation is ludicrous

@rubecube12 @ForeignSubstance @johnserwach

Yellen already said explicitly "No Coin", while Biden has said he's open to the 14th. We shall see...

@ForeignSubstance @plutus @rubecube12

JPow will just put a couple zeros on

Novara Media on Instagram: "The rich don’t suffer from the cost-of-living crisis. 📹 BBC Question Time. #politics #ukpolitics #bbc #costofliving"

17K likes, 732 comments - Novara Media (@novaramedia) on Instagram: "The rich don’t suffer from the cost-of-living crisis. 📹 BBC Question Time. #politics #ukpo..."

Instagram
@rubecube12 @johnserwach @plutus I'm thinking if they go the platinum coin option ... they ought to make it a quadrillion dollar coin.

@ForeignSubstance @plutus @johnserwach

No you do it by enough to extend the debt ceiling for a few months (100 bil) and then tell republicans you can devalue the currency (something they hate more than debt) or you can pass a clean bill. And keep doing until they pass a clean bill

@rubecube12 @plutus @johnserwach IMHO, devaluation, or even the threat thereof, would be a political mistake of historic proportion. It's something any demagogue would love.

@ForeignSubstance @rubecube12 @plutus what about making a shoe ? This shoe is legal tender for all debts public and private. Value, 900 trillion dollars - they could be ruby slippers.

I would support that.

@johnserwach @ForeignSubstance @plutus

Get vol to post his shoes first

@rubecube12 @johnserwach @ForeignSubstance

Can someone please respond to why teabaggers are being so compliant on this debt ceiling vote? There is no way there isn't more bottom-feeding drama or ulterior motive about letting Biden have this win and it is a win.

@plutus @ForeignSubstance @rubecube12 Are they ? Maybe they’re plotting now.

@johnserwach @ForeignSubstance @rubecube12

That's the thing there's no way McCarthy doesn't have a sense of what they are doing

@johnserwach @ForeignSubstance @rubecube12

And that they are plotting his removal if they can

@plutus @rubecube12 @ForeignSubstance

It takes a little time and strategy. Maybe they made a deal for something stupid ?

@johnserwach @plutus @rubecube12 Possibly a recognition that the boat was going to sail, with or without them, and better to be on board.

@plutus @johnserwach @ForeignSubstance

McCarthy will be forced out of speaker if he gave away too much

@rubecube12 @plutus @johnserwach Will be interesting. He can tell the loons, "Look, I'm in your corner, but notice what we have to work with. You can force me out, but who do you think is next? Someone who thinks you're rubbish."

The people who can take him out don't have the votes to put one of theirs in.

@ForeignSubstance @plutus @johnserwach

They put a motion of no confidence. Dems join. He's out. And the then they get more concessions from the next speaker. Just like what happened with Paul Ryan getting elected

@plutus @ForeignSubstance @rubecube12 yeah but they have to get someone that’s electable- no one’s gonna grovel like Kevin did

@plutus @ForeignSubstance @johnserwach

That's up to moderates to figure out. Nobody has the votes without their support

@plutus @ForeignSubstance @johnserwach

They are just after concessions. Moderates have already said they won't make a dem backed (problem solvers) speaker

@rubecube12 @plutus @johnserwach This is the type of problem that could even see an open split in the party.
@ForeignSubstance @rubecube12 @plutus well you know, markets Love the unknown
ric burton on Twitter

“Peter Thiel was incredibly weird with me when I was at Stripe in 2012 I asked him an interesting set of questions about PayPal & he guided the conversation to totally different areas I was 23 years old & just wanted to learn from him People told me afterwards what he wanted”

Twitter
@plutus @rubecube12 @ForeignSubstance so, just spitballing here- how many years until a terrorist group successfully launches a drone strike on a U.S. City ?

@johnserwach @rubecube12 @ForeignSubstance

I have a sneaky feelin they may start with Cleveland. Seems like an obvious target.

@johnserwach @rubecube12 @ForeignSubstance

There are only 2 things from Cleveland Danny - steamers and dreamers, which one are you?

@johnserwach @rubecube12 @ForeignSubstance

Taking laps after being wrong for 5 months and 3000 NQ points lmao. The wizard of fintwit https://twitter.com/dampedspring/status/1663587695426142228?s=46&t=myUg8E_NfUxKRXrtk0UUnw

Andy Constan on Twitter

“So this fund went from zero QQQ position to 85% long QQQ's on Friday. Need I say more? $QQQ”

Twitter

@rubecube12 @plutus @ForeignSubstance

I can’t believe Yuk didn’t crosspost this over here or at the very least tag me!! You don’t love me anymore, do you ? 😂

@johnserwach @ForeignSubstance @plutus

Total disrespect for the decorum of the house. Republicans should be ashamed

@rubecube12 @johnserwach @ForeignSubstance

My take - I know you will disagree with me but so be it.

@ForeignSubstance @johnserwach @plutus

No voting for cuts unless majority of republicans vote for cuts. Just like TARP

@rubecube12 @ForeignSubstance @johnserwach

Let's take the win for Biden and stop AOCing...

@ForeignSubstance @johnserwach @plutus

If you vote for cuts and republicans don't vote for cuts. It will be labeled democrat cuts and will be a nuise around Dems next election. These are good cuts. Let gops vote for them